The British Retail Consortium, which represents the retail industry, has
called on the Government to freeze business rates as UK inflation rises to
3 percent, a five-year high.

The statement comes as figures released by the Office for National
Statistics, the Consumer Prices Index hit 3 percent for September 2017, up
from 2.9 percent in August, and was last higher in March 2012.

The British Retail Consortium states that without intervention from the
Government that retailers and other firms could face a rise in business
rates twice as large as last year, adding that this will hit retailers
alone with an extra 270 million pounds in tax next April.

Helen Dickinson, British Retail Consortium chief executive, said: “The
consequences of today’s RPI figures could be severe for many shops in a
precarious position and struggling to survive. Consumers, already seeing
household incomes eroded, will face further misery as the pound in their
pocket buys them less at the checkout.

“For retailers, this will be compounded if UK Ministers fail to act and
stem the hefty near four per cent rise in business rates, which is set to
add an extra quarter of a billion pounds to retailers’ already unreasonable
business rates burden.”

Dickinson added: “For many shops, this may be the last straw. Across
the country, especially in economically deprived and vulnerable
communities, the cost of failing to take action will likely be seen in yet
more empty shops and gap-toothed high streets.”